Search America's historic newspaper pages from 1836-1922 or use the U.S. Newspaper Directory to find information about American newspapers published between 1690-present. Chronicling America is sponsored jointly by the National Endowment for the Humanities external link and the Library of Congress. Learn more

Download & Play

Questions

Newspaper Page Text

is charter r parochialtxa
*. tion, and used -for locomotion over
public r6ade, in their respective par
ishee; which license shall be gradu
ated. The provision of this article
relative to the per capita tax, shall
not be operative in incorporated
.towns and cities that maintain their
own streets.
- To darry into effect the provisions
of this Article the Police Juries may
enact such ordinances of a civil na
tore as may be necessar- to enforce
the property and license tax, and of
a criminal nature to enfor:.o the per
capita tax.
Police Juries and municipal corpo
rations in the several parishes of this
State may levy other taxes for the
construction and maintenance of pub.
lic roads and bridges within the terri
torial limits of said parishes, and may
incur debt, and issue negotiable bondn
therefor In the manner and to ex*
tend authorized under provisions of
Article. 232 and 281 of the Constitu
tion and the Statutes adopted to car
ry them into effect. Other taxes mas
be levied by the Police Juries for
road and bridge purposes not to ex"
seed five mills for five years on the
PYroerty of the Parish, or any ward
thereof, whether the rate of taxation
and the purpose thereof shall have
been submitted to the property ta.
Payers of the said ward or parish en
titled to vote under the election laws
of the State, and a majority thereof
in number and value of those vot
ing at said election shall have voted
in favor thereof. That this article
shall be self operative.
Section 2. Be it further resolved,
etc., That this proposed amendment
" shall be submitted to qualified voters
of this State for adoption or rejection
at the Congressional election to be
in November, 1912, and, if adopted,
the same shall take effect immediate
ly thereafter.
Section 3. Be it further resolved,
etc., That on the official ballots to be
issued at said election there shall be
placed the words "For the proposed
.amendment to Article Two Hundred
and Ninety-One of the Constitution
of Louisiana" and the words "Against
the proposed amendment to Article
Two Hundred and Ninety-One of the
Constitution of Louisiana," and each
elector shall indicate, as provided in
the general election laws of the State
which of the propositions, "For" or
"Against," he votes.
L. E. THOMAS.
Speaker of the House of Represen
tatives.
THOMAS C. BARREP,
Lieutenant Governor and President
of the Senate.
Approved: July 11th, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Sedretary. of State.
ACT NO. 4.
Senate Bill No. 2. By Mr. Voegtle.
JOINT RESOLUTION
Submitting to the people of the State
of Louisiana an amendment to
the Constitution authorizing par
ishes and self-taxing municipali
ties to exempt new industrial en
terprises and also Im-niroved value.
Inclusive of structures added to
unimproved lands by immigrants
into the State, who occupy said
lands as homesteads from local
taxation for a period not to ex
ceed ten (10) yearn.
Section 1. Be it resolved by the
Genera. l Assembly of the State of
o LouIslan , two-thirds of all the mnem
i bers dlcted to each homuse coacur
' WiuThat the followjng amendment to
h.o Constitltion of the State of Lo
aian be sad the same Is areby mab
mitteds to the qialitfled electors tof
·the state at the Congrmional elec
-' tio to be held on the that "Taesday
af er the first Monday in the month
i. November of the year 1912, to-itt
V ivery pariah and self-taxing ma
Slgalksty shar have the right to ex
.::1Pt new industrial enterprises and
al iso the improved value added to an
maproved lands, including all struc
te:~ s thereon, by immigrants into the
t ate who occpy said lands aa home
 lba, from local taxes for a period
i2 t to ezoeed ten (10) years by the
'ote: of tw-thins in number of all
i-tIs tazparqyra, who are qualified elec
Stars, acluding resident women tax
'pa7er, holding at least two-thirds of
the property subject to local taxation
withn thetating locality at a spec
-l~t election called for that purpose, at
Wrtih Special election members of
`.~- PtotIIYir , associations and heirs
of; estates, otherwise qualified, shall
e .eatitled to vote 'their aoespective
I pro rtat of the assessed valuation of
iadl partnerahbIs, associations or es
ittes. Bach enterprise so exempted
t be situated within thelnimtts of
"- exempting authority and be en
Safter the exemption is
on 2. Be it fuirther resolved,
't That there shall be printed on
ballots to be used at said eleo
fthe words: 'For the constitution
authorizing parishes
munfolpalltes to ex
int"astrial enterprises and
value, inclusive of
added to unimproved
"b ~lellgranta; into the State
said lands as homest-ads
taxes for a perIod not to
(10) sears," san "Agalnst
amendment sather.
and selftaxang maunci
itO exempt new industrial en
-se also lmprqvet value, In
structureS, added to antm
lands by mla igrants into the
onccpy asidsands aubomn
Apke local taesi for a period
osned. tun (10) years," and
-- doctor sihan iniceate gn his bal.
p de t'b e t enheral elec
uS f the State whether ibe
~--iti or s st: the said imend
Governor sad President
d~l~~$LUIO
ACT NO. 6
Senate Bill No. 3. By'Mr. Burke.
JOINT RESOLUTION
i Submitting to the people of Louisiana
an amendment to the Constitution
exempting from taxation for twen
ty (20) years corporations organ
S ized to lend money on mortgages
on country property at not more
than six (6) per cPnt interest,
net to the borrower, with power
to negotiate bonds and securities
of local taxing districts.
Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
.ring, That the following amendment
to the Constitution of the State of
Louisiana be and the same is here
by submitted to the qualified elec
tors of the State at the Congression
al election to be held on the first
Tuesday after the first Monday in
the month of November of the year
1912, to-wit:
The capital, surplus and personal
estate of every corporation hereafter
organized in this State for the sole
purpose of lending money on mort
gages on country property situated in
Louisiana at a rate of interest not
to exceed six (6) per cent net to
the borrower, with power to negoti
ate and handle bonds and securities
issued by the various parishes and lo
cal districts and municipalities of she
State of Louisiana shall be exempt
from taxation for twenty (20) years
from the date of the organization of
each of said companies, provided
that each of said companies shall
have a full paid cash capital stock of
not less thin $250,000.00, and provid
ed further that in case any such cor
poration shall on any loan charge the
borrower more than six per cent in
terest, whether by way of commis
sion, discount, or otherwise, it shall
forfeit the entire exemption herein
granted, and be subject to taxation
from the time it makes such loan;
and any such corporation handling or
negotiating any securities other than
those hereinabove mentioned shall in
cur a like forfeiture.
No such corporation shall have pow
er to receive any money on deposit
or to do a banking business of any
sort, but all such corporations shall
be under the control and supervis
ion of the State Bank Examiner,
whose duty it shall be to report to
the Attorney General and the State
Tax Commission any violation of the
condition of this exemption.
Section 2. Be it further resolved,
etc., That there shall be printed in
the ballots to be used at said elec
tion the words "For the amendment
to the Constitution exempting from
taxation for twenty (20) years corpo
rations organized for the sole purpose
of lending money on country real es
tate situated in Louisiana at not
more than six (6) per cent to the
borrower, with power to negotiate
and handle local securities," and the
words "Against the amendment to
the Constitution exempting from
taxation for twenty (20) years corpo
rations organized for the sole pur
pose of lending money on country
real estate situated in Louisiana at
not more than six (6) per cent net
to the borrower, with power to ne
Sotiate and handle local securities,"
and each elector shall indicate on his
ballot, as provided by the general
election laws of the State whether
he votes for or against the said
amendmeat
THOMAS C. BARRET,
Leutenant Governor and Presldent
of the Senate.
L. E. THOMAS,
Speaker of the House of Represen
tatlves.
Approved: August 24Cth, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. 7.
Senate Bill No. 4. By Mr. Favrot.
JOINT RESOLUTION
Proposing an amendment to the Con
stitation of the State of Louisi
ana relative to the exemption
from taxation of money in hand
or on deposit.
* Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
ring, That the following amendment
to the Constitution of the State be
submitted to the qualified electors
of the State for their adoption or re
jection at the Congressional election
to be held on the first Tuesday af
ter the first Monday in athe month
of November, 1912, as follo'rs:
There shall be exempt from taxa
tion all money in hand or on deposit.
Section 2. Be it tfrther resolved,
etc., That the official alot to be
used at said election shall have print
ed thereon the words;: "For the pro
posed amendment to the Oonstltu
tion of the State of Louisiana ex
empting froam taxation all money in
hand or on deposit," and the words
"Aga~Last the proposed amon4ment to
the Constitution ot the State of Lou
islman exempting from taxation all
'1oney ia hand or on deposit. And
each elector shal indicate, as provid
ed by the general election laws of
the State, whether he votes for or
against the proposed amendment.
THIOMAS C. BARRIET,
Lieutenant Governor and President
of the Senate.
L. E, THOMAS,
Speaker of the House of Represen
tatives.
Approved: August tith, 1913.
L. E.' HALL,
Goveranor of the State of Louistana.
A rue copy: ,
ALVIN E, HEBERT
;eertary of State.
* .* r ' i·.:· ; : ' , . .. .
fenate Bill No. 5. By Mr. Well.
JOINT RESOLUTION
I Proposing an amendment to the Con
Stitution of the State of Louisi
ana. relative to authorizing par
ishes and municipalities by a ref
erendum to their respective qual
ified electors to exempt from
taxation an amount not to exceed
$2,000.00 to be deducted from the
value of dwellings exclusively oe
cupied by bona fide owners for
residential purposes only, and to
withdraw such exemption by a
similar referendum.
Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of the members
elected to each house concurring,
That the following amendment to the
Constitution of 1898 be submitted to
the qualified electors of the State for
their adoption or rejection at the
Congressional election to be held on
the first Tuesday after the first Mon
day in the month of November, 1912,
as follows:
That every parish or municipality,
through its Police Jury or govern
ing authority shall have the right to,
and upon the petition of one-fourth of
the qualified electors residing with
in its jurisdiction shall, submit to
the qualified electors in said par
ish or municipality, at an election to
be called and held for that purpose,
after thirty days published notice,
the question as to whether or not
there shall be exempted from taxa
tion an amount not to exceed $2,
000.00 to be deducted from the value
of all buildings exclusively occupied
by bona fide owners for residential
purposes only; provided that any ex
emption may be withdrawn in the
same manner in which it may be
granted.
No such exemption, voted by a par
ish, shall operate to grant any tax
payer owning and occupying a home
within a municipality the right to de
duct the exempted amount from the
improvement value of his property in
respect to municipal taxation.
Section 2. Be it further resolved,
That there shall be printed on the
ballots to be used at the said elec
tion the words: "For the proposed
amendment authorizing exemption of
homes from taxation," and the words
"Against the proposed amendment au
thorizing exemption of homes from
taxation," and each elector shall in
dicate, as provided in the general
election laws of the State whether
he votes for or against the proposed
amendment.
THOMAS C. BARRET,
Lieutenant Governor and President
of the Senate.
L. E. THOMAS,
Speaker of the House of Represen
tatives.
Approved: August 24th, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. 9.
Senate "ill No. 6. By Mr. Barrow.
JOINT RESOLUTION
Submitting to the people of Louisi
ana an amendment to the Con
stitation providing for referen
dum to the people of each par
ish to determine whether cities
and incorporated towns and vil
lages or any one or more of theni
shall be free from taxes and li
censes levied by parochial au
thorities for parochial purpose.,
subject to the obligation to make
certain contributions to the par
Ishes.
Section 1. Be it resolved by 'he
General Ass 'mbly of the, State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
rin&g That the following amendment
to the Constitution of the State of
Lonislana be and the same is hereby
submitted to the qualified electors of
the State at the Congressional elec
tion to be heldon the first Tuesday
after the first Monday in the month
of November of the year 1912, to-wit:
Every pariah'through its Police Ju
ry shall have the right to submit and,
upon the petition of one-fourth of
the qualified electors therein shall
submit to the qualified electors of
said parish, at an election to be call
ed and held for that purpose after
thirty days published notice, the ques
tion of whether or not all or any one
or more of the cities, incorporated
towns and villages within'the limits
of the parishes (unless already ex
empt) shall be free and exempt
from all taxes and licenses levied by
parochial authority for parochial pur
poses, provided that whenever such
exemption is granted, each city, in
corporated town and village so ex
empted shall contribute to the paro
chial authorities its fair propotrtion of
Il parochial burdens, debts and ex
penses common to both. Such pro
portion to be adjusted between the
Police Jury and the municipal author
ities, and in case of disagreement
such apportionment to be made by
the State Tax Commi sion.
. Section 2. Be it further resolved,
tc,, That there shall be printed on
the ballots to be used atthesaid elec
tion the words "For the ameadment
to the Constitution estatbsinS g a ref
ereadum to the people of each par
iah to determine whether or not cit
ies and ilcorporated towns and vil
lages shall be released from paro
-hale taxation and licenses, subject
to the eondition of contributing to
paris expe~ases," and the words
"Agalast the amendment to the Con
.titution establishia~ a refereadum
to the. people of each parish to de
Itermfiae whether or not cities and
iacorporated towns sa villages shall
be released from parodhial taxation
and lIleases, isbject to the condit
tion of contributing to parish expen.
sPs' au$ eah elector shaP, lidl-'ate
on his= a"rr g i ded by :J.
general laws of the Stat,
whether ,he votes for or against the
said amendment.
THOMAS C. BARRET,
Lieutenant Governor and President
of the Senate.
L. E. THOMAS,
Speaker of the House of Represen
tatives.
Approved: August 24th, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. X10.
Senate Bill No. 7. By Mr. Shaffer.
JOINT RESOLUTION
Submitting to the people of the State
of Louisiana, at the Congression
al election to be held in Novem
ber, 1912, an amendment to the
Constitution of the State exempt
ing from taxation for ten (10)
years from the date of comple
tion the capital stock, franc~e ,
and certain property of all corpo
rations constructing, owning and
operating within the State a com
bined system of irrigation, navi
gation and hydro-electric power,
using fresh water streams and
water sheds, provided that each
system be completed and in op
eration within five (5) years from
January 1st, 1913, and providing
further that not less than five
million dollars shall have been
expended in the construction of
each system.
Whereas, the State of Louisiana
has large areas comprising millions
of aores of land that can be reclaim
ed and brought into cultivation by ir
rigation, whereby large additions will
be made to the population and, the
assessed value of the State; and,
Whereas, canals can be construct
ed so as to provide irrigation, navi
gation and power, and it is the State's
duty to encourage and promote the
organization of such concerns:
Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
ring, That the following amendment
to the Constitution be submitted to
the qualified electors of the State
for their adoption or rejection at the
Congressional election to be held on
the first Tuesday after the first
Monday in the month of November,
1912, as follows:
There shall be exempt from taxa
tion for ten (10) years from the date
of completion, the capital stock, fran
chises and property of all corpora
tions constructing, owning and oper
ating within the State a combined
system of irrigation, navigation and
hydro-electric power, using fresh
water of Louisiana streams, and wat
er-sheds, provided that each system
shall becompleted and in operation
within five (5) years from January
1st, 1913, and provided further that
'not less than five million dollars
shall have been expended in the con
struction of each system. No real or
corporeal property shall be covered
by this exemption except that which
i, necessarily connected with and ap
purtenant to each canal system and
forming part thereof, nor shall this
exemption extend to the assessed
value that esuch real estate had at
the time it may be acquired by the
company; provided that the right of
the State to regulate the diverasion
of its public waters from their natu
ral beds ahal: not-be waived by this
ameadment.
Section 2. Be it further resolved,
etc., That the official ballot to be
used at said edection shall have print
ed thereon the words: "For the pro
posed amemlment to the Constitn
tion of the State of Louisiana ex
empting from taxation for ten (10)
years from the date of completion
certarl new canals for Irrigation, nav
igatlon and power purposes to be
completed within five years with a
capital of not less than five million
dollars," and the words: "Against
the amendment to the Constitution
of the State of Lousiana exempting
from taxation for ten (10 years from
the date of completiona certain new
canals for irrigation, navigation and
power purposes to be completed with
in five (5) years with a capital of
not less than five million dollars."
And each elector shall indicate as
provided in the general election laws
of the State whether he votes for
or against the proposed amendment.
THOMAS C, BARRET,
Lieutenant Governor and President
of the Senate.
L. E. THOMAS,
Speaker of the House of Represen
tatives.
Approved: August 24th, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. 11.
Senate Bill No. 8. _ By Mr. Voegtle.
JOINT RESOLUTION
Proposing an amendment to the Con
stitution of the State of Louisi
ana exempting from taxation the
legal reserve of life insurance
companies organized under the
laws of this State.
Section One. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mem
bers elected to each house concur
ring, That the following amendment
to the Constitution of the State be
submitted to the qualified electors of
the State for their adoption or rejec
tion at the Congressional election to
be held on the first Tuesday after
the first Monday in the month of No.
vember, 1912, as follows:
There shall be exempt from all tax
ation the legal reserve of life in
suranice companies organized under
the laws of this state.
Section Two. Be it furthe' reso'ved, 1
. : ,  .
etc., Tliatý'the official ba1ot--t-. .be
used at said election shall have:-phnt
ed thereon the words: fTor the pro
posed amendment to the Constitu
tion of the State of Louisiana. ex
empting from all taxation the le4al
reserve of life insurance companies
organized under the laws of this
State," and the words "Against the
proposed amendment to the Constitu
tion of the State of Louisiana exempt
ing from all taxation the legal re
serve of life insurance companies or
ganized under the laws of this
State." And each ele:tor shall in
dicate, as provided by the general
election laws of the State, wheth
er he votes for or against the pro
posed amendment.
THOMAS C. BARRET,
Lieutenant Governor and President
of the Senate.
L. E. THOMAS,
Speaker of the House of Represen
tatives.
Approved: August 24th, 1912.
L. E. HALL,
Governor of the State of Louisiana.
A true copy:
ALVIN E. HEBERT,
Secretary of State.
ACT NO. 12.
House Bill No. 2. By Mr. Roberts.
JOINT RESOLUTION
Submitting to the people of Louisi
ana an amendment to the Con
stitution reorganizing and re
modeling the State's system of
assessment and taxation.
Section 1. Be it resolved by the
General Assembly of the State of
Louisiana, two-thirds of all the mnm
hers elected to each House concur
ring, That the following amendment
to the Constitution of the State of
Louisiana be and the same is hereby
submitted to the qualified electors
of the State at the Congressional
election to be held on the first Tues
day after the first Monday in the
month of November. in the year 1912,
to-wit:
Article I.
1. The taxing power shall be exer
cised by the State and by its sub
divisions for public purposes only.
2. The taxing power shall never be
surrendered, suspended, given, com
muted or contracted away; but where
parishes or municipal corporations
shall grant exemptions from parish
or municipal taxes for a period not
to exceed ten years from date of
completion to encourage the estab
lishment of industrial enterprises, or
a similar exemption to immigrants
of the value added by them to vacant
property owned and occupied as a
- homestead, such exemptions shall not
be withdrawn either as to enter
I prises established or substantially be
I gun in good faith, or as to immigrants
- who have actually acquired and im
proved or in good faith begun to im
prove their homesteads, since the
granting of the exemption. The Gen
eral Assembly on behalf of the State,
I and the governing authorlties of all
- subdivisions of the State on behalf
of such subdivision, may defer for
I not more than three years the col
lection of taxes in localities subject
ed to overflow or other public ca
I lamity.
3. The General Assembly hall have
power to classity all property for tax
Sation, and to adopt different rules
and rates for different classes, but
such rules and rates shall be equal
and uniform on all subjects of the
same class throughout the territorial
limits of the authorety levying the
tax. All such classifications shall be
based on the' characterlstics of the
property .itself or its use, and nev
er on persons or ownership.
4. Except in case of foreign inva
alon or domestic revolution, the Gen
eral Assembly shall not have power
to levy any ad valorem property tax
in ecess of four per cent; but the
-General Assembly shall not exceed
the rate of two and one-half per cent.
except by a vote of two-thirds of all
the members elected to each house
thereof.
Article II.
1. The sources of State and local
revenue shall be segregated and, ex
cept as hereinafter specified, or as
may be hereafter .permitted by a
vote of two-thirds of all the members
elected to each House of the Gener
at Assembly, each taxing authority
shall be restricted ip taxation to its
own sources of revenue as herein
assigned.
2. Until otherwise provided by a
vote of two-thirds of all of the mem
bers elected to each House of the
General Assembly, the following
shall be the sources of State reve
nue:
1st. The special taxes herelnafter
provided fpr.
2nd. Al' corporations, private per
sons and unincorporated assoctations
that operate any railroad falling un
der the jurisdiction of the Railroad
Commission of Louisiana; street rail
road; combined street-railroad and
electric light and power business:
heating or refrigeration plant, (not
inclusive of cold storage plant); tel
ephone line; telegraph line, wheth
er w;ireless or otherwise; express
line, dining car, sleeping car, oil car,
refrigerating car, or cars for any
other purpose operating upon rail
roads in this state; steamboat, mot
or boat, steamship, ferry, barge and
tug, or other water craft, where o.
erated for hire, canal for transportA
tion or irrigation, and pipe line Idr
oil or gas. When the electricde light
and power business conducted in con
Janction with any street railroad can
be practically severed from the street
railroad business for purposes of as
sessment then such severance shall
be made by the Tax Commission and
such electric light and power business
shall not be a source of State reve
nue.
3rd. All banks, State and Nation
al, including savings banks, trast
banks and trust companieb, sad all
private bankers, whether indviduals
or partnerships, save that the real
estate of all banks and bankers shall
be locally assessed and taxed. The
assessmente of the real estate of
banks and banker, shall be equallz
ed annually by the Tax Commision
to the basis ished and In v
s' gue in each locality where such real
estate is located.
4th. All insurance companies in
eluding bonding and surety companies,
foreign or domestic, and all persons
1 and partnerships engaged in insur
s ing persons or property, save that
all the real estate and corporeal
3 property of such companies, persons
or partnerships shall be locally as
t- sessed and taxed.
5th. All sugar refineries, rice mills,
cotton seed oil mris, cotton seed oil
refineries and refi neries of petroleum
and its products. A sugar refinery
is hereby defined to be a concern
that buys and refines raw sugar ex
clusively, or a concern that buys and
refines more raw sugar than the ag
gregate of the sugar produced by it
from cane grown and purchas-d by
it.
6th. All mines of sulphur, salt or
other minerals, all oil or gas wells,
all stone quarries, sand, gravel and
shell pits.
3. Only the operative property of
state sources of revenue shall be
segregated to the State. The Gener
a, Assembly shall define, in a man
ner not inconsistent with any pro
visions of this amendment what the
operative property of each such
source is. Real estate and the Im
provements thereon forming part of
any railroad terminal, depot or yard
or warehouse or shop, acquired after
July 1, 1912, even though it may form
part of the operative rproperty of any
railroad, shall not be considered a
source of state revenue except by
constitutional amendment unless
such property had been, prior to said
date, part of a railroad terminal, de
pot, yard, warehouse or shop.
f 4. All other property subject to
taxation, except as herein specified,
or except as may hereafter be direct.
ed by a vote, of two-thirds of all the
members elected to each house of the
E General Assembly, shall be sources
of local taxation.
Article III.
1 The General Assembly shall have
Spower to levy for State purposes the
following special taxes:
1. A tax on the transfer of stocks
in corporations not to exceed 2 cents
a share.
2. A tax on the organization of
domestic corporations, organized for
profit, excepting banks, fraternal in
surance companies, and building and
loan or homestead associations, not
e to exceed ten dollars flat, plus not
to exceed one-twentieth of one per
cent of the authorized capital stock
e and surplus, which tax shall be lev
s ied upon increases of capital stock
h as well as upon original issues.
3. A tax on private corporations,
organized for profit, for the privilege
of exercising corporate functions, not
to exceed one4wentieth of one per
r cent per annum on the outstanding
capital stock and surplus, excluding
banks, fraternal and life insurance
a companies and building and loan or
't homestead associations; no such tax
to be less than five dollars. On for
eign corporations this tax shall be
$ levied on such proportions of their
" capital stock and surplus as is used
" in this State in intra-state business.
'e In lieu. of the franchise tax on capi
1 tal and surplus, life insurance corn.
a' panles, foreign and domestic, not In
eluding fraternal insurance associa.
tions, shall pay annually a flat fee of
ý $150.00 plus $2.50 on each $10,000.00
of premiums collected in Louisiana
t- during the preceding year.
4. An annual ad valorem tax on
all automobiles and talicabs, and al
re so on all other autodriven vehieles
' used for tranasportation of perbons or
a freight for hire, with permikdion to,
It the local government of the res
i1 dence of the owner to levy an anrual
Le license tax not to exceed $5.00. One.
al half of the proceeds of this trate
Il tax cotlected from each owner shall
e go to the State good .roads fids;
e the remaining moiety of such tax
r- shall be paid over by the State to
the governing authorlty of the locall
a* ty from which the machine Is res
a- tered, to be devoted exelusively by
rsuch governing authority to the 13*
LI provement of the publie highways
e within its jurisdiction.
d 5. A tax on cotton future orn
t. tracts, in lieu of all licenses to h
1 ture brokers, of not more than fit
e teen nor less than ten cents on
each purchase and sale of each 100
bales, to be paid on each transe-a
il tion, one-halt by the buyer and oe
C- half by the seller.
5 6. A tax on grain, coffee, rice
a and sugar future contracts, in lieu of
5 all licensee to future brokers, of not
r- more than one and one-half per cent
y nor less than one per cent on the '
s commislsions paid on each transac
f tion. Each unit contract as estab. :
lUshed by the rules of the respective.
a exchanges shall be the basis of the "'
Stax, to be paid, one-half by the buy
e er and one-half by the seller.
g 7. A true. progressive inheritane
tax for the benefit of the Generkil
Fund, and if such a tax is levied all::
r beneficiaries shall be divided inatO
the following maximum exemptions
for each class:
First. aseendants, descendants, and i
spouses, with an exemption of $2000
I each, except as to the widow, whea
- the exemption shall be $5000, and ex
I cept as to children under the age of
sixteen, when the exemption shall
t $3500 each. The widow's maa •.A
- fourth shall be exemnpt.
- Second, collateral relations of the ,
Ssecond degree, inacludisgnepbewsand
nieces and their descendants. when,
the estate is divided by roots, with i
an exemption of $1000 to each root, )
and daughteralin-law with an exemp
I tion of $1000 each. -
Third, collateral relations of the .:
•third degree, eacldliag nephews and (!:
nieces and their representatives, with
an exemption of $500 each.
Fourth, all other collateral relsa. e
dons within the sixth degree Inchlu-i
sire, with an exemption of $250 each;
Fifth, strangers and all collateral
relationsa beyond the sixt deree
with an exemption of $15 eI
The mndlmum rate of the! p
sive tax shall not exceed t
cent for the first classe,
ceat for the second class,
per cent for the third class,
five per cent for the fo"rth
and thirty per cent forthefj
maximum rates to bea
any Inheritance,
exceeds a halfin1JA
And theminimi:n
tax Piil. be .one
first cia, tO
for the secodlba
,. " .